Nomura Real Estate Partners Begins Full-Scale Offering of "re:Sati-Nas®" to Address Shortage of Repair Reserve Funds

Key Points of This Press Release

1. A service name has been decided and is now being fully offered by management companies to management associations to address the challenge of insufficient repair reserve funds, which often occurs during large-scale repair work for condominiums over 30 years old when other major renovation work overlaps.

2. Our proprietary defect insurance allows for a 5-year waterproofing warranty*1 before major renovations, enabling a delay in the timing of large-scale repair work and providing an extended period to increase repair reserve funds.

3. The service has been adopted in the Ministry of Land, Infrastructure, Transport and Tourism's FY2022 and FY2023 "Model Projects for Extending the Lifespan of Condominium Stock" and received the "Condominium Value-Up Award 2023".

Nomura Real Estate Partners Co., Ltd. (Headquarters: Minato-ku, Tokyo / President and Representative Director: Kazuhiro Tomita, hereinafter "the Company") is pleased to announce that it has officially launched its new service, named "re:Sati-Nas®*2 (Ri-Sachinasu, hereinafter "this Service")," designed to address the shortage of repair reserve funds in condominiums.

This Service makes it possible to postpone the timing of large-scale repair work with peace of mind by implementing the minimum necessary maintenance work for building upkeep and by providing a 5-year waterproofing warranty*1, which is made possible by subscribing to our proprietary defect insurance developed in collaboration with an insurance company. Our mission is to support the creation of an environment where condominium residents can continue to live with peace of mind. We have sincerely addressed the challenges faced by management associations. Based on numerous consultations and feedback from the field, we have developed this Service as a solution for the issues faced by condominium management associations.

The name "re:Sati-Nas®" is derived from the Latin word "sanitas," meaning "to make healthy," and incorporates the aspiration to "achieve happiness," symbolizing a service that aims to realize the peace of mind and safety of residents.

*1: In this press release, "warranty" refers to the Company subscribing to an insurance policy from an insurance company and undertaking repair work within the scope of the insurance money received by the Company.

*2: Trademark name: re:Sati-Nas ® / Registration Number: No. 7019586

1. Background of Service Launch

According to a survey by the Ministry of Land, Infrastructure, Transport and Tourism*3, 36.6% of condominiums have insufficient repair reserve funds compared to their plans, making the shortage of repair reserve funds a social issue. Generally, large-scale...